888’s P400M mall expansion on the upswing


By Jezza A. Nepomuceno

BACOLOD CITY, March 11 (PNA) — The proposed P400-million mall expansion of 888 Chinatown Square, one of the budget-friendly malls in the metro, will soon come to reality after acquiring lease contract with the provincial government of Negros Occidental recently.

Under the contract, Bacolod Capitol Hill Land Development Corp. (BCHLDC), the mall operator, will pay the provincial government a lease of P75.10 per square meter for 50 consecutive years.

BCHLDC headed by Filipino-Chinese businessman William Ong will construct the three-storey extension edifice in the 1.1 hectare property formerly occupied by the Provincial Jail at Gatuslao Street, Bacolod City.

The proposed expansion will offer additional 30,000 square meters commercial spaces as well as spaces for parking area. In its official website, 888 Chinatown Square already posted that is now accepting calls for reservations.

888 Chinatown Square started its operations here in 2008 when it leased the province-owned 1.2-hectare lot at the corner of Gatuslao Street and Cottage Road – the previous site of Negros Occidental Tennis Association courts.

The lease contract for its two-storey wholesale/retail center is pegged at P200,000 per month and will last for 35 years, according to local media reports.

The existing mall has 10,000 square meter floor area that could accommodate 200 “tiangge” stalls, 10 fast food stalls, four major restaurants, a supermarket and playground for children.

It has also parking spaces surrounding the building that are good for over 250 cars. The mall expansion is seen to spur the economic activities not only of the province but its capital city Bacolod. (PNA)
DSP/JAN

 

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